Regional News

Bloomberg While Alberta’s plan to mandate Opec-style production cuts already is boosting oil prices and shares, the revival of Canada’s resource nationalism adds another layer of risk for investors to consider. The removal of millions of barrels of crude from the market will help shareholders of smaller producers who are exempt from the cuts, like Bonterra Energy Corp, as well …

Bloomberg Canada’s largest oil producing province ordered an unprecedented output cut, an effort to ease a crisis in the nation’s energy industry and adding to global actions to combat a recent price crash. The plan will reduce production of raw crude and bitumen from Alberta by 325,000 barrels a day, or 8.7 percent, from January until excess oil in storage …

Bloomberg Vivint Solar Inc dropped the most in more than two years after saying a fund managed by Blackstone Group LP, its biggest owner, is selling 8 million of the rooftop solar company’s shares at a 21 percent discount. Vivint fell 21 percent to $5.51 at 11:33 am in New York, after earlier sliding as much as 22 percent. That’s …

Bloomberg Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast. The country’s oil production will average 4.59 million barrels a day, 22,000 more than previously forecast, data from the Canadian energy regulator show. The raised production outlook comes even as pipeline bottlenecks have driven Canadian crude prices to record …

Bloomberg Africa is on the cusp of a liquefied natural gas (LNG) boom. That’s in part due to accelerating global demand. It’s also down to a fast-track method of getting the fuel to market. Kosmos Energy Ltd’s project in Mauritania and Senegal, set to get the go-ahead next month, will use a floating vessel to convert gas from the offshore …

Bloomberg Some liquefied natural gas (LNG) sellers aren’t in a rush to deliver their multimillion-dollar cargoes. With uncertain demand and no signs yet of bitter cold, some traders are preferring to keep their fuel inside vessels in the hope prices will rise. While the sight of stationary cargoes might not be unusual in the more-established oil market, technology has only …

Bloomberg Plans in Australia to import gas to ease a supply squeeze may fail to bring down domestic prices as it pits the nation against some of the world’s biggest buyers for supplies. Australia finds itself in the odd position of having to consider four projects to import liquefied natural gas (LNG) while simultaneously being on track to become the …

Bloomberg President-elect Jair Bolsonaro is pursuing the sale of Brazil’s deep-sea treasure-trove of oil, but just weeks after his election he’s facing the same political obstacles as his two predecessors. While Bolsonaro’s transition team argues the sale could net some $30 billion to help plug fiscal deficits, a squabble over how to divvy up the spoils between various states and …

Bloomberg An influential panel of lawmakers in UK parliament is encouraging the government to develop hydrogen as a way to provide a green form of heat for industry and homes. The Committee on Climate Change, which advises the government on energy and environmental policies, said ministers should write a strategy for removing carbon emissions from heat in the next three …

Bloomberg Oil rose from its lowest settlement in more than a year in New York. Futures added 1.7 percent, after slumping 7.7 percent. Saudi Arabia is pumping as much as 11.2 million barrels of crude a day, the most since the kingdom extracted its first oil eight decades ago, according to a person familiar with the matter. Theb West Texas …